Real Estate Math
A Hawaii commercial property worth $3,500,000 has a loan at 65% LTV. What is the loan amount?
AA. $2,150,000
BB. $2,275,000✓ Correct
CC. $2,400,000
DD. $2,100,000
Explanation
$3,500,000 × 0.65 = $2,275,000 loan amount.
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